[178 Pages Report] The brake friction market is projected to grow during the forecast period due to the increase in vehicle production. The brake friction (OE) market is projected to grow at a CAGR of 2.33% from 2018 to 2025, from USD 12.79 Billion in 2017 to USD 15.84 Billion by 2025. The brake friction aftermarket is projected to grow at a CAGR of 1.03% from 2018 to 2025, from an estimated USD 29.06 Billion in 2017 to USD 31.99 Billion by 2025.

Years considered for this report:

2017 - Base Year

2018 - Estimated Year

20182025 - Forecast Period

Objectives of the Study

To define, segment, analyze, and forecast (20182025) the OE and aftermarket size, by volume (000 units) and value (USD million), for the brake friction market

To segment the off-highway brake friction OE market and forecast the market size, by value and volume, on the basis of brake friction type

To segment the brake friction OE market and forecast the market size, by value and volume, on the basis of electric and hybrid vehicle type (BEV, HEV, and PHEV)

To segment the automotive brake disc OE market and forecast the market size, by value and volume, on the basis of material type (metallic disc, ceramic disc, and composite disc)

To segment the automotive brake liner market and forecast the OE market size, by volume, on the basis of type (woven brake lining and molded brake lining)

To forecast the volume and value of the aftermarket segments with respect to four main geographies, namely, North America, Europe, Asia Oceania, and the Rest of the World (RoW)

To provide detailed information about the major factors influencing the growth of the brake friction market (drivers, restraints, opportunities, and challenges)

To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders

To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, and research & developments in the brake friction market

The research methodology used in the report involves various secondary sources such as EAMA, OICA, CEMA, paid databases such as Marklines, Factiva, and other directories. Experts from related industries and suppliers have been interviewed to understand the future trends of the brake friction market. The bottom-up approach has been used to estimate the market size, by volume. The installation rate of disc and drum brake system has been derived by using model mapping of country level vehicles. The market size, by volume, is multiplied by the average OE price (AOP) of brake friction products units required for each application and architecture, to calculate the market size in terms of value. Summation of the country-wise markets gives the regional market, and further summation of the regional markets provides the global brake friction market. Dealers and distributors of brake friction and technology suppliers are consulted for information. To derive the aftermarket size, by volume, the total miles driven per vehicle per country and product life in miles are used to derive the number of friction products required per vehicle, which is then multiplied by the vehicle parc to derive the final market in terms of volume.

The figure below shows the break-up of the profile of industry experts who participated in the primary discussions.

The study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years (depends on a range of forecast period) for prioritizing their efforts and investments.

Scope of the Report

Brake Friction Market, By Product Type

Brake Disc

Brake Pad

Brake Drum

Brake Shoe

Brake Liner

Brake Disc Market, By Disc Material

Metallic Disc

Ceramic Disc

Composite disc

Brake Liner Market, By Type

Woven Liner

Molded Liner

Off-Highway Vehicle Brake Friction Market, By Application

Construction Equipment

Agricultural Tractors

Brake Friction Market, By Vehicle Type

Passenger Car

Light Commercial Vehicle (LCV)

Truck

Bus

Electric & Hybrid Vehicle Brake Friction Market, By Vehicle Type

Battery Electric Vehicle (BEV)

Hybrid Electric Vehicle (HEV)

Plug-In Hybrid Electric Vehicle (PHEV)

Brake Friction Aftermarket, By Region

Asia Oceania

China

India

Japan

South Korea

Europe

Germany

France

Uk

North America

Us

Mexico

Canada

Rest of The World (RoW)

Brazil

Russia

Available Customizations

With the given market data, MarketsandMarkets can provide market data for below categories:

Brake Friction Aftermarket, By Vehicle (Country Level)

*Note: Country level Data Is available for India, China, Japan, South Korea, UK, Germany, France, US, Canada, Mexico, Russia and Brazil, following data*

Passenger Cars: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

LCV: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

BUS: Brake Friction Market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Off Highway Brake Friction Market, By Product Type, (Country Level)

Construction Equipment: Brake friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Agricultural Tractors: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Brake Friction Market, By Vehicle Type (Country Level)

*Note: Country level Data Is available for following data*

Passenger Cars: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

LCV: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

BUS: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Truck: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Off Highway Brake Friction Market, By Product Type, (Country Level)

Construction Equipment: Brake friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Agricultural Tractors: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Brake Friction Market, By Vehicle Type (Country Level)

*Note: Country level Data Is available for following data*

Passenger Cars: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

LCV: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

BUS: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Truck: Brake Friction market

Brake disc

Brake pad

Brake drum

Brake shoe

Brake liner

Market Dynamics

Drivers

Increase in Vehicle Production Will Fuel the Demand for Brake Friction Market

Growing Demand for Passenger Cars and Commercial Vehicles

Increasing Demand for Construction Equipment and Off-Highway Vehicles

Increasing Use of Brakes Due to Traffic Congestion to Increase the Demand for Replacement Units

Opportunities

Eco-Friendly and Non-Toxic Brake Friction Products to Be New Avenues of Growth for Brake Manufacturers

Challenges

Government Regulations Related to Alloy Composition of Brake Friction Products

Counterfeit Brake Friction Products in the Aftermarket

Critical Questions:

Why disc brake has the largest market today and will also dominate in future as well?

How and why Hybrid electric vehicle brake friction products are the fastest growing?

How the industry players will address the challenge of government regulation related to brake friction products?

The brake friction aftermarket is projected to grow at a CAGR of 1.03% during the forecast period, from USD 29.77 Billion in 2017 to USD 31.99 Billion by 2025. The increasing vehicle parc is the key factor driving the growth of the replacement market for brake friction. The brake friction (OE) market is projected to grow at a CAGR of 2.33% during the forecast period, from an estimated USD 13.48 Billion in 2018 to USD 15.84 Billion by 2025. This growth can be attributed to the increase in demand for vehicles across the globe.

The brake friction market has been segmented on the basis of ICE vehicle, off-highway vehicle, electric & hybrid vehicle, friction products, aftermarket, and region. Brake disc and brake pad are estimated to be the fastest growing and largest segments of the brake friction (OE) market, respectively, in terms of value. The increasing demand for performance, braking control, and less stopping distance of the vehicle has increased the demand for disc and brake pads.

The brake disc is estimated to be the fastest growing market, by product, in terms of value. Most of the present-day vehicles are equipped with brake disc as these are easy to install, repair, and more durable than the drum brake. With advancements in brake friction technology, disc brake friction is expected to show higher growth than the drum brake system. Disc brake products have higher stopping power and durability as compared to drum brake products. Moreover, increasingly stringent emission norms are driving the demand for lightweight friction products such as ceramic disc brakes. Hence, the ceramic brake disc is estimated to grow at the highest CAGR during the forecast period.

The brake pad is the fastest growing aftermarket, by product, in terms of value. The installation rate of disc brake system in vehicles is high in developed countries and is estimated to increase in developing countries such as India and Brazil. Additionally, the demand for brake disc is expected to increase further with an increase in average velocity of a vehicle. Disc pads have a lower product life as compared to the brake disc. Hence, the brake pads need to be replaced periodically. The increasing installation of disc brake in new cars will create an opportunity for the brake pad aftermarket. Hence, the brake pad aftermarket is expected to grow at a high CAGR during the forecast period.

The passenger car is the largest and fastest growing segment of brake friction (OE) market, by ICE vehicle type, in terms of value. The increasing demand for brake friction in passenger cars can be attributed to the increasing installation rate of disc brake systems in passenger cars. HEV is estimated to be the largest market for brake friction, by electric & hybrid vehicle type, in terms of value. HEVs have the largest share of electric and hybrid vehicle sales across the globe. Owing to the increasingly stringent emission norms and growing pollution levels, the adoption of electric & hybrid vehicles has increased across the globe.

North America is expected to dominate the brake friction aftermarket during the forecast period. Increasing vehicle parc is expected to boost the market in this region. The presence of leading brake friction manufacturers is also driving the growth of the market in this region. In addition, North America has an organized brake friction aftermarket, which includes key players such as Federal Mogul, Brembo, and others. Increasing customer awareness and technological advancements make it easy for manufacturers to operate in the aftermarket in the North American region. Additionally, consumers are more interested in the braking performance and safety of the vehicle. Hence, the region is expected to dominate the brake friction aftermarket.

The key factors restraining the growth of the brake friction aftermarket are the presence of multiple regional players in the brake friction market and easy availability of counterfeit products. The choice of brake friction systems varies with vehicle type and cost. This leads to customization and adds to the overall cost of the brake friction system. Moreover, a lack of awareness about the replacement of brake friction at regular intervals can hinder the growth of the aftermarket. Additionally, growing environmental concerns across the globe have compelled manufacturers to develop eco-friendly and lightweight brake friction products. Hence, key players such as Federal Mogul and Robert Bosch have launched their aftermarket products.

Aisin Seiki, Brembo, and Robert Bosch are the dominant players in the brake friction market. The extensive competition in the automotive industry has compelled these companies to focus on innovation. The companies are focusing on introducing innovative products in brake friction technology. As the demand for lightweight components is increasing, the lightweight ceramic disc will impact the brake friction market for electric and hybrid vehicle to a great extent.

The need to decrease stopping distance, and increase in vehicle production will together drive the brake friction OE market

The brake disc is the fastest growing market, by product, in terms of value. Majority of the present-day vehicles are equipped with disc brake disc as they are easy to install, repair, and are durable than the drum brake. However, with the advancement in brake friction technology, disc brake friction will show better growth than the drum brake system as it enhances the power and durability of friction products of vehicles.

The important factors driving the growth of this market include the demand for passenger cars and commercial vehicles. However, a major restraint for the brake friction products market is the increasing life of brake friction products.

Ongoing new product developments by leading companies for advanced differential systems and components are likely to propel further growth of the automotive differential market during the forecast period.

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